New legislation has come into effect in Turkey, reducing the number of complex legal procedures for establishing a company from 19 to just three. Furthermore, the three remaining procedures can now be completed quickly and at a single office of the Chamber of Commerce and Industry.
Royal Caribbean holds a 35% stake in the consortium called "Ege Avrasya Royal Caribbean." This consortium founded the new company "Ege Liman Isl. AS," which is the first company established under the new legislation in Turkey.
Royal Caribbean is the world's second-largest cruise ship operator and also has investments and port operations in major tourist ports in North and South America. It has 23 ships, a capacity for 47.400 passengers, and an estimated value of $3,1 billion.
The operator, through the consortium and the newly founded company, is planning to receive the world's largest cruise ships at the port of Kusadasi in Turkey as early as the 2003 tourist season.
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